INTERNSHIP DETAILS

Summer Intern, Debt

CompanyThe Lightstone Group, LLC
LocationNew York
Work ModeOn Site
PostedFebruary 25, 2026
Internship Information
Core Responsibilities
The intern will support origination and deal execution teams in the underwriting and closing process for new investments, remaining involved through the deal life cycle. Key activities include conducting due diligence, preliminary underwriting, and contributing to Investment Committee Memos.
Internship Type
full time
Salary Range
$30 - $45
Company Size
326
Visa Sponsorship
No
Language
English
Working Hours
40 hours
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About The Company
Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 28 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 240 existing properties, Lightstone’s over $12 billion portfolio currently includes over 16 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion developed in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.
About the Role

Company Description:

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 28 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 240 existing properties, Lightstone’s over $12 billion portfolio currently includes over 16 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion developed in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.


Position Overview:

The Debt Underwriting Intern will work in the NYC Corporate HQ supporting the origination and deal execution teams on the screening, underwriting, and closing process for new investments and will remain involved in the deals through their life cycle. See below for a more detailed list of activities expected of the Debt Underwriting Intern.  

This is a full-time, non-exempt role running from approximately June 15th to August 14th.

Essential Functions:

  • Due Diligence:
    • Comparables Analysis (Sales, Lease & Cap Rate Comps)
    • Interfacing with sponsors and brokers to obtain critical property and borrower level information
    • Market Analysis (Demand Drivers, Strengths & Weaknesses, Historical Trends and Projections)
  • Preliminary Underwriting:
    • Back of the Envelope (BOE) Models
    • Introductory Excel-based Financial Modeling
    • Pro-forma Analysis
    • Returns Sensitivities
    • Dynamic/Automatic Inputs/Outputs
    • Rent Roll Analysis
    • Budget Review
    • Opportunity to present investment recommendations to investment team
  • Investment Committee Memos (ICOMM):
    • Contribution towards Critical Memo Sections:
      • Executive Summary
      • Market Overview
      • Creating Exhibits (Tables, Property and Comparables Maps, etc.)
      • SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
      • Conclusion
Key Skills
Due DiligenceComparables AnalysisMarket AnalysisUnderwritingFinancial ModelingPro-forma AnalysisReturns SensitivitiesRent Roll AnalysisBudget ReviewInvestment Committee MemosSWOT Analysis
Categories
Finance & AccountingSalesData & Analytics